Iranian oil minister looks for more local input in industry
Iran’s oil minister, Bijan Namdar-Zanganeh, has revealed that more than $10 billion of investments have been made in projects in the country’s Pars Special Economic Zone (PSEZ), with crude exports from the area expected to bring in $7 billion within eight years. Some 10,000 people are employed in the zone.
Quoted by IRNA, Zanganeh said that all the refineries connected to the South Pars Gas Field are being constructed in the PSEZ.
Zanganeh said that he would like to see the Iranian oil sector becoming more self-sufficient, and noted that his ministry has set a goal according to which Iranian companies begin producing 10 specific items used by the oil industry, which together consist of 70 percent of all the international purchases by his ministry.
Zanganeh called on both Iranian and foreign investors to invest in the Iranian oil industry. He expressed his ministry's readiness in supporting local companies that are capable of transferring technology or are willing to enter into partnership with foreign companies.
Zanganeh also outlined a program sponsored by the ministry, according to which bank credits with low interest rates will be offered to companies that transfer technology and produce oil equipment and machinery in Iran. – (Albawaba-MEBG)
© 2000 Mena Report (www.menareport.com)